Need Foreclosure Prevention Help?

We are dedicated to helping you avoid foreclosure through one of two techniques: loan modification or short sale. If you are upside down on your mortgage (you owe more than your home is worth), we can help you avoid the foreclosure process and get you started on the right path.

Avoiding foreclosure with a short sale

You have several options available to avoid foreclosure. If you have received a notice of default or are behind in your mortgage payments, we at Blue & Gold Realty can help you avoid the foreclosure process on your home by negotiating the following options with your lender:

Avoiding foreclosure with a Loan Restructure

We can negotiate with your lender to get your loan in good standing again. There are many options available to use to get a restructure approved like a separate payment plan for your delinquencies or even adding the delinquency to the end of your loan. You may qualify for a restructure especially if you have recently experienced a reduction in income or an increase in living expenses. Sometimes we can even get your monthly payment lowered!

Avoiding foreclosure with a Short-Sale

We can help you sell your home before the foreclosure sale. We may be able to negotiate a short sale with your lender on your behalf. In this case the lender would take less than you owe on the loan and avoid a costly foreclosure process. If the short-sale is unsuccessful, we can arrange for you to simply give the property back to the lender and walk away not owing anything. This process is not as damaging to your credit as a foreclosure.

You do have options to avoid the foreclosure that you can do on your own, without the assistance of a real estate agent;

Reinstatement – Reinstatement of your loan by paying your lender all the past due amounts to bring the mortgage current. Although this option is probably not feasible in most distressed situations.

Mortgage Refinance – Refinance the debt or extend the term of your mortgage. However, this is a difficult option if you owe more then your property is worth. However, if your receiving a notice of default (NOD) then you most likely do not have the financial ability to refinance or do a loan reinstatement. Only as a last resort should you consider Bankruptcy or allowing the bank to Foreclose.

Bankruptcy – You may qualify for Chapter 7 Debt Elimination or Chapter 13 Reorganization. Bankruptcy stays on your credit for 10 years.

Foreclosure – This is the most damaging to your credit other than bankruptcy. The lender will be able to take your home and your equity. This will stay on your credit seven years.

Many homeowners are benefiting from our help in these hard times. We have successfully negotiated a number of the options discussed above and have helped our clients avoid foreclosure.

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